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Monthly Report

May 2026 | No. 511

Index
May 2026 | No. 511

Editorial
Economy and markets between two tides: geopolitics and artificial intelligence
José Ramón Díez
José Ramón Díez

Key points of the month

  • Hormuz: time is against us
    Oriol Aspachs

Forecasts and indicators

  • Forecasts and indicators - may 2026

Financial markets

  • Financial markets: a disconnect between risk and energy?
    CaixaBank Research
  • What markets tell us about macroeconomics
    Isabela Lara WhiteJesús Manuel Carrera Moreno

International economy

  • Geopolitics prevails over international economic data
    CaixaBank Research
  • Shadows (and some light) in Europe’s industrial decline
    David Martínez Turégano

Spanish economy

  • The Spanish economy remains resilient in an uncertain environment
    CaixaBank Research
  • What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran?
    David Cesar Heymann
  • Household savings, income and finances in Spain: how did they fare in 2025 and what can we expect for 2026?
    Javier García ArenasSergio Díaz
  • Investment growth, key to consolidating Spain’s economic expansion
    Sergio Díaz

Portuguese economy

  • Portugal: the effects of the conflict begin to show through
    CaixaBank Research

Dossier

  • The AI buzz in financial markets
    CaixaBank Research
  • Productivity and employment in the face of generative AI: what do we know?
    Oriol Carreras Baquer
  • AI adoption in Spanish firms is advancing rapidly but remains limited and uneven
    Javier García ArenasPedro Álvarez Ondina
  • Differentiated strategies for governing AI: towards cooperation or conflict?
    David Martínez Turégano
  • Artificial intelligence: a supply-side perspective
    Isabela Lara WhiteLuís Pinheiro de Matos

Forecasts and indicators - may 2026

Forecasts

Key indicators

18 May 2026
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